Tag: Assocham

Mobile commerce is accelerating at a rapid rate in India

A new study from ASSOCHAM and Grant Thornton predicts that mobile commerce will explode in India in the coming year. The study forecasts that the overall e-commerce market will see a compound annual growth rate of 63%, reaching $8.5 billion in 2016. Mobile shopping is likely to play a larger role in this growth, as more consumers are beginning to use their mobile devices to shop for products online.

Mobile Internet use is growing quickly, giving consumers more access to mobile services

Mobile Internet penetration is growing throughout India and telecommunications companies are working to quickly expand their mobile networks in order to accommodate consumer demand. Smartphone adoption is also on the rise, with penetration expected to go beyond 200 million, ranking India the second largest smartphone market in the world. More consumers will be using their mobile devices to shop online and retailers will be working to provide better mobile commerce services to these consumers in order to secure their loyalty.

Online transactions to reach 38 million by the end of the year

By the end of this year, there is expected to be more than 38 million online transactions, an increase from the 11 million that was reported in 2011. The Indian government has also taken an interest in mobile commerce, planning to rebuild and modernize the postal infrastructure in order to better accommodate digital consumers. This modernization is being seen in various other sectors, as well, and it is becoming easier for consumers to participate in mobile commerce.

Online travel dominates the mobile commerce market in India

Online travel seems to be the leading force India’s e-commerce market. More consumers are beginning to use their mobile devices to book trips and plan their vacations and mobile has become one of the most influencing powers affecting online travel in the country. Retail is also experiencing a surge in mobile shopping and retailers are beginning to work to become more mobile-centric in order to provide consumers with efficient and adequate mobile commerce services.

Mobile is driving the growth of the global e-commerce market

Deloitte and Assocham have released a new study that predicts that mobile commerce will reach $638 billion by 2018. The global e-commerce space is growing quickly, with mobile consumers playing a more active role in purchasing products online. Several retailers are finding more success by engaging these consumers, offering them ways to purchase products in an enjoyable fashion on their mobile devices. The mobile space is expected to generate more growth in the e-commerce space in the coming years.

Retailers are seeing a growing portion of their revenue come from mobile commerce

Companies like Flipkart, Amazon, and Jabong are finding a greater portion of their revenue is coming from mobile commerce. For some, as much as 50% of their online revenue is now being generated by the mobile space. As these retailers engage mobile consumers more aggressively, the amount of revenue that merchants generate from the mobile space is likely to increase. Providing consumers with an enjoyable and convenient mobile shopping experience is one of the factors that will have a major impact on whether or not consumers make purchases through their smartphones.

Wearable technology could aid in the adoption of mobile commerce

Wearable devices are expected to play a role in the growing prominence of mobile commerce, as well. New devices, such as Google Glass and the Apple Watch, are likely to make it easier for consumers to make purchases in physical stores. While not all wearable devices have mobile commerce capabilities, those that do are providing retailers with a way to support mobile transactions in their physical stores.

Electronic markets are gaining more support from retailers that want to engage in the digital space

Electronic marketplaces are becoming a more attractive solution for retailers. The logistical challenges associated with holding inventory in physical stores and juggling these challenges with the global supply chain can be an expensive problem for merchants. Electronic marketplaces can mitigate these costs and make it easier for retailers to serve mobile consumers that are interested in shopping online with their smartphones and tablets.